Highlights

• KPI Green Energy received an EPC work order for a 142 MW (DC) floating solar project from Gujarat State Electricity Corporation Limited.
• Hindustan Copper and NTPC Mining signed an MoU for joint participation in copper and critical mineral mining projects.
• Indian Railway Finance Corporation executed an External Commercial Borrowing agreement worth USD 300 million equivalent in JPY.

Indian corporate developments across renewable energy, mining and infrastructure financing gained attention with new project awards, strategic collaborations and cross-border funding arrangements. KPI Green Energy Limited secured a major floating solar EPC contract in Gujarat, Hindustan Copper entered a partnership with NTPC Mining for mineral exploration, and Indian Railway Finance Corporation signed an External Commercial Borrowing agreement valued at USD 300 million equivalent. These updates highlight ongoing activity across sectors instrumental to India’s long-term energy and industrial goals.

KPI Green Energy Wins EPC Order

KPI Green Energy Limited (NSE:KPIGREEN) received a work order from Gujarat State Electricity Corporation Limited (GSECL) for the engineering, procurement and construction of a 142 MW (DC) / 110 MW (AC) floating solar photovoltaic project at the Kadana Dam reservoir in Mahisagar district, Gujarat. The award reinforces the company’s growing footprint in advanced solar infrastructure, expanding its portfolio beyond ground-mounted and rooftop projects.

The contract covers full turnkey execution, including design, engineering, procurement, and installation of the floating PV system. It also includes grid-connection works such as a 33 kV underground transmission line to the pooling station and installation of 33/220 kV bays at the Kadana substation. The project carries a 10-year operation and maintenance component and is scheduled for completion within 18 months.

Hindustan Copper and NTPC Mining Form Partnership

Hindustan Copper Limited (NSE:HINDCOPPER) and NTPC Mining Ltd (NML) signed a Memorandum of Understanding on 2 December 2025 to jointly participate in copper and critical mineral block auctions. The collaboration aims to pursue opportunities in exploration, mining and processing of minerals, focusing on both existing assets of HCL and potential domestic or overseas projects.

The MoU sets the framework for evaluating joint investments in copper and critical mineral development. It also creates scope for coordinated efforts in operationalising new mineral blocks, expanding both companies’ ability to address growing demand for strategic minerals.

IRFC Signs USD 300 Million Equivalent ECB Agreement With SMBC

Indian Railway Finance Corporation Ltd (NSE:IRFC) finalised an External Commercial Borrowing agreement with Sumitomo Mitsui Banking Corporation’s GIFT City branch in Gandhinagar. The facility, equivalent to USD 300 million in JPY, marks IRFC’s entry into the ECB market under its IRFC 2.0 initiative.

The loan carries a five-year tenor and is benchmarked to the Tokyo Overnight Average Rate (TONAR). Funds raised through this facility will be utilised to finance projects with forward or backward linkages to the railway sector, or other approved infrastructure projects, in accordance with ECB guidelines.

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